Originally Posted by Jay3
It doesn't look that good to me. It shows net income dwindling to $26 million in 2012, which is pretty low for such a large amount of capital tied up.
See, capital has a cost. It migrates elswhere. If you have something that is worth $500 million, and it throws off $26 million in net income, then you're making about 5% return on the capital that is tied up. May as well put it in the bank or buy a a piece of land.
When you consider Joe Flacco will make $20 million next year, net income of $26 million for owning and entire team is a warning sign.
The main thing the owners wanted fixed was the salary cap being a percentage of total revenue, rather than the messed up formula it was before.
Dude, that is Richardson's NET income. That means after all his bills are paid, after he's paid all his employees and all operating costs, he's walking home with $26 million dollars in his pocket.
This is not gross income, it's net income. Anyone coming out with $26m in their pockets after everything is paid for is doing just fine. I'm guessing that $26m is his net income after taxes too.